In the global mining industry, some of the most powerful figures operate quietly. One of them is Oskar Lewnowski, a metals investor who has spent decades financing mines but has rarely appeared in the public spotlight.
- A little-known mining financier is emerging as a key player in the global race for critical minerals.
- Oskar Lewnowski is leading a consortium seeking a 40% stake in two major cobalt and copper mines in Congo in a deal valued at about $9bn.
- The investment reflects growing Western efforts to secure minerals used in electric vehicles and renewable energy.
- Africa’s mineral resources are becoming central to the global energy transition.
Lewnowski is leading a consortium seeking to acquire a 40 percent stake in two major copper and cobalt mines in the Democratic Republic of Congo in a deal valued at about $9 billion. The assets are owned by commodities giant Glencore and include the Mutanda and Kamoto mining operations, among the most important sources of cobalt in the world.
The investment reveals Africa’s growing importance in the global race to secure critical minerals used in electric vehicles, renewable energy systems and advanced electronics.
A quiet player steps into the spotlight
Lewnowski is the founder of Orion Resource Partners, a New York-based investment firm focused on mining and metals.
For years he has kept a low public profile, even as his firm became one of the largest specialist investors in the mining industry. Unlike many financiers, he rarely gives interviews and has largely avoided media attention.
But the Congo investment is difficult to keep quiet.
The proposed deal is being pursued through the Orion Critical Minerals Consortium, a partnership that includes the U.S. International Development Finance Corporation and Abu Dhabi sovereign investor ADQ.
If completed, the consortium would take a significant stake in Glencore’s operations while the mining giant continues to manage the assets.
Why Congo’s minerals matter
The mines at the centre of the deal produce copper and cobalt, two metals that are becoming increasingly important in the global economy.
Cobalt is a key ingredient in rechargeable batteries used in electric vehicles, smartphones and energy storage systems. Copper, meanwhile, is essential for electricity networks, renewable power systems and electric transport.
The Democratic Republic of Congo is the world’s largest producer of cobalt, making it a critical supplier to the technology and energy industries.
However, much of the global refining capacity for cobalt is controlled by China. For years Chinese companies have invested heavily in mining and processing operations across Africa, giving them a dominant position in the supply chain.
This has raised concerns in the United States and Europe about the security of mineral supplies needed for future technologies.
A career built in metals finance
Lewnowski’s career began in international banking.
He worked at Deutsche Bank and later Credit Suisse First Boston, where he focused on trading and corporate finance. Over time he developed a strong interest in commodities, particularly metals used in industrial production.
His experience eventually led him into the mining sector itself. In the early 2000s he co-founded the metals trading firm Red Kite, which grew into one of the largest specialist hedge funds in the industry during the commodity boom.
But Lewnowski later moved away from trading to focus on financing mines directly.
In 2013 he launched Orion Resource Partners, building it into a major investment platform backing mining companies around the world. The firm has invested billions of dollars into projects across multiple continents and has backed dozens of mining companies.
Its investors include pension funds and sovereign wealth funds seeking long-term exposure to the global resources sector.
Washington’s push for secure supply chains
The Congo deal shows a bigger strategy by Western governments to strengthen supply chains for critical minerals.
In 2025, Lewnowski helped launch the Orion Critical Minerals Consortium, designed to finance mining projects that could supply the United States and its allies with key resources.
Unlike exploration projects that can take many years to develop, the consortium focuses on mines that are already producing or close to production. This approach allows new supply to reach the market more quickly.
The proposed investment in Congo is the consortium’s largest move so far.
The next phase
The Mutanda and Kamoto mines are among Glencore’s most valuable assets in Africa. Together they produce large volumes of copper and cobalt that feed into global battery and technology supply chains.
Under the proposed agreement, the consortium would be able to appoint directors and manage the sale of its share of production to selected buyers.
The deal is still non-binding and will require due diligence, regulatory approvals and final agreements before it can proceed.
If completed, however, it would mark one of the most significant mining investments in Africa in recent years, and place Lewnowski, a figure long known mainly inside the metals industry, at the centre of the global race for critical minerals.
